Hi,
I am going to be overseas for the next 7 weeks, and have to complete our mortgage application etc. I have been told I can appoint my wife as a power of attorney to act on my behalf.
I know there are 2 types of attorney:
1) General power of attorney.
2) Enduring power of attorney.My Q: Do I need a general or an enduring power of attorney? AFAIK, the only difference is the general attorney power expires when / if I go loopy. If thats the case, then I’m thinking a general should be ok , and the witness, I believe, doesnt have to be one of the prescribed witnesses for the enduring attorney (i.e. solicitor etc).
Can anyone confirm my thoughts? Or should I just call a solicitor…? (thought I’d try here first).
When I went o/s in the middle of selling a property, I gave some kind of power of attorny to a friend but it was only for the purpose of signing the sell contract. He couldn’t use it for anything else. That doesn’t really help though does it? I think asking a solicitor would be the way to go.
POAs differ from state to state. So you had better consult a solicitor or go to http://www.lawcentral.com.au. Me and my wife have enduring power of attorneys for each other, and I have bought a few properties when my wife was overseas (she still doesn’t know about them
!).Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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